The statue which commemorates monarch King George V was unveiled by Councillor M Martin on the 20th May 1938. The bronze statue of the King shows him in full robes of the Order of the Garter.

George V (3 June 1865 – 20 January 1936) was King of the United Kingdom and the British Dominions, and Emperor of India, from 6 May 1910 through the First World War (1914–1918) until his death.

BALLARAT, Friday. — Constituting a notable addition to Sturt-street sculpture, the new King George V. memorial statue was unveiled in the presence of a large crowd at 2 p.m. today. The memorial, in granite, with the bronze figure of the King in the full robes of the Order of the Garter, occupies the east end of Alexandra-square. Mr. Victor H. Greenhalgh, the designer of the statue, which was modelled in Ballarat and cast in Italy, is an instructor at the Ballarat Art School. In the work he has achieved a splendid likeness of his Majesty. The base was constructed by Mr. F. W. Barrow, who has been associated with many Ballarat memorials over a long period of years. An ornate drinking fountain has been placed on the west side of the monument, and seating has been arranged on the 36 ft. wide granite flanks of the base. More than 2000 school children, with detachments of scouts and guides, surrounded the memorial today, and opened the ceremonial by singing the first verse of the National Anthem and saluting the flag. The mayor (Cr. J. H. Trekardo) called for cheers for the King, the Empire and the Commonwealth, and these were lustily given. Cr Trekardo in his address paid a tribute to the sculptor. Cr. M. Martin, chairman of the memorial committee, in performing the unveiling, referred to the late King's personal association with Ballarat in the visits here of himself and his sons. King George V., he said, had ruled in kingly fashion, with the greatest love for his people and Ballarat was proud to have his memory perpetuated in such a way. Dr. C. N. Button said he regretted the inability of the Bishop of Ballarat to attend and speak. The day, he said, reminded them that they were both Australians and Britishers. Never had they a monarch who was more deeply loved than George V.Age (Melbourne), 21 May 1938.